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Shandong Weigao Group Medical Polymer Co ( (HK:1066) ) has provided an update.
Shandong Weigao Group Medical Polymer Company Limited has entered into a supplemental sale and purchase agreement with related parties to finalise the terms of transferring 100% equity interest in its non-wholly-owned subsidiary WEGO Prefills to Weigao Blood Purification for a consideration of approximately RMB8.51 billion, to be settled via the issuance of 271,997,882 new shares in Weigao Blood Purification. Upon completion, WEGO Prefills will become a wholly owned subsidiary of Weigao Blood Purification, while Weigao Group’s aggregate stake in Weigao Blood Purification will rise from 23.53% to 52.10%, turning Weigao Blood Purification into a subsidiary of the listed company and bringing both WEGO Prefills and Weigao Blood Purification (and their subsidiaries) under full consolidation into Weigao’s financial statements; given the transaction size and the connected nature of the parties under common control of ultimate shareholder Mr. Chen Xueli, the deal is classified as a major and connected transaction and will be subject to Hong Kong Listing Rules requirements for reporting, announcement and independent shareholders’ approval.
The most recent analyst rating on (HK:1066) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on Shandong Weigao Group Medical Polymer Co stock, see the HK:1066 Stock Forecast page.
More about Shandong Weigao Group Medical Polymer Co
Shandong Weigao Group Medical Polymer Company Limited is a PRC-incorporated medical device manufacturer listed in Hong Kong, focused on medical polymer products and related healthcare consumables, with operations structured through various subsidiaries including interests in blood purification and prefilled products businesses.
YTD Price Performance: 0.60%
Average Trading Volume: 13,649,846
Technical Sentiment Signal: Sell
Current Market Cap: HK$22.84B
See more insights into 1066 stock on TipRanks’ Stock Analysis page.